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Changing reporting period to align with companies act 2013

CA Ganesh Agarwala (Audit Senior Manager) (239 Points)

05 April 2015

Dear All,

One of my client (a private limited company) use to close its books of accounts on 30 September every year and did it same in 30 September 2014. on GM dated 31 December 2014 they have reappointed us auditors. Now the company want to close its books for six months ended 31 March 2015 to align itself with the requirements of companies act 2013.

Kindly let me know the requirements under the companies act 2013, it had to follow (with relevant reference to the sections) to chnage its reporting period.

Warm regards

Ganesh Agarwal

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1 Replies

Santhosh Kumar (CA-FINAL) (78 Points)
Replied 05 April 2015

May be after preparing the Annual Report for six months, you need to clearly give a note with reasons for preparing Fin St. for 6 months period and not for the whole financial year, and all other Schedule III requirements followed accordingly.